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Financial Glossary – K

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Keynesian Economics – the economic theories of John Maynard Keynes, who led the idea that economic performance is calculated by aggregate demand (an economy’s net spending). Keynes’ approach was used by several governments following the 2008 global financial crisis.

Kleptocracy – a country whose leader, politicians and public officials use their powers of state to steal money and resources for their own personal gain – to line their pockets. These dishonest people are called kleptocrats. They feather their nests at the expense of the taxpayer and other citizens.